HORIZON BANK Failed 2009
What happened
HORIZON BANK of PINE CITY, MN was closed on 2009-06-26. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to STEARNS BANK, NATIONAL ASSOCIATION (ST. CLOUD, MN). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 3634
- FDIC Certificate
- 9744
- FDIC FIN
- 10070
- Bank name
- HORIZON BANK
- Location
- PINE CITY, MN
- Failure date
- 2009-06-26
- FDIC resolution date
- 2009-06-26
- Charter type
- State commercial bank, non-Federal Reserve member (FDIC-supervised)
- Resolution type
- Purchase & Assumption — acquiring bank assumed deposits + bought assets
- FDIC DIF cost (est.)
- $24M
- Deposits at failure
- $69M
- Assets at failure
- $85M
- Acquiring bank
- STEARNS BANK, NATIONAL ASSOCIATION (ST. CLOUD, MN)
Other banks STEARNS BANK, NATIONAL ASSOCIATION acquired in FDIC resolutions